Cbus transforms finance with Valtatech

One of Australia’s largest super funds, Cbus Super, has chosen financial process automation experts, Valta Technology Group, to implement, integrate and manage a Source to Pay solution to drive automation across its accounts payable, financial and procurement process functions.

Cbus provides superannuation and income stream accounts to more than 780,000 members and manages over $A48 billion worth of infrastructure and property assets in Australia and overseas It has integrated Valtatech’s new Source to Pay (S2P) technology platform to enable greater efficiency across the super fund’s back-office functions.

Cbus and Valtatech’s partnership, which began in January 2018, has now been expanded into a full source to pay managed service, utilising Valtatech’s expertise to tailor technology for the requirements of the superannuation industry.

Valtatech’s new end to end S2P platform provides a complete ecosystem to improve Cbus’s ability to leverage its procurement outcomes for the benefit of its members. Reducing costs, risks and improving value delivery across the fund; while providing the visibility and insights Cbus requires to improve risk mitigation, due diligence processes and governance.

S2P and P2P technology and process expert, Jussi Karjalainen, who is Founder and Managing Partner of Valtatech, says: “Alongside our S2P solution and managed service, our partnership with Cbus ensures their team can leverage the best people, processes and technology to transform their finance and procurement functions. Valtatech is extremely proud to partner with Cbus and look forward implementing a solution to build Cbus’s procurement capability further.”

CBUS’s new S2P technology platform, which will be implemented, integrated and managed by Valtatech, includes:

A full procure-to-pay system including financial governance/approval steps

A contract management repository to help speed up contract negotiations and link contracts with the full Source to pay value chain

Simplified options for tactical contracting, to ensure contract terms are adhered to and that the business can move at speed

Jussi Karjalainen said: “Gone are the days when any organisation’s sourcing and procure to pay processes can be entirely manual or requiring manual keying of information, with its inherent data entry quality risks. Valtatech’s leading, non-disruptive approach, alongside our reach and experience, are the perfect fit for Cbus.”